News

Vaccinogen Announces Completion of its Initial Capitalization Plan

Nov 3, 2007

Frederick, MD, USA – November 3, 2007 – Vaccinogen announced today that it has successfully completed its initial capitalization plan otherwise known as its A-Round.

Completion of the A-Round enables Vaccinogen to hire all key staff from Intracel as permitted by its October 10 license/acquisition agreement with Intracel Acquisition Holding Company. In addition, Vaccinogen is able to assemble all necessary assets to initiate commercialization of and acquire key ingredients to the OncoVAX® therapy. This includes the TICE BCG product, a critical component in the OncoVAX® process.

The Company anticipates a second financing before year-end that will enable the Company to initiate the pivotal and confirmatory Phase IIIb clinical trial that will involve up to 32 clinical sites throughout the US, UK and Europe.

Founded by Michael G. Hanna, Jr., Ph.D., The purpose of Vaccinogen is to focus on the development of immunotherapy products for the treatment of solid tumors and on the commercialization of autologous tumor vaccine products.

OncoVAX® is based on a platform that utilizes an autologous (patient’s own) cancer cells as an active specific immunotherapy ("ASI") for adjuvant treatment of Stage II colon cancer following surgery. The vaccine comprises sterile, metabolically active, irradiated, non-tumorigenic autologous tumor cells, with or without fresh frozen BCG bacteria as an adjuvant. OncoVAX® is produced individually for each patient and is administered by four intradermal injections. The vaccine is prepared using a proprietary, sterile manufacturing process following surgical removal of the colon tumor.

About OncoVAX®

OncoVAX® immunotherapy is based on a decades-long attempt by scientists to transform the body’s immune response and its long-term memory to prevent the return of the disease. Such an approach has already been successful in preventing a number of infectious diseases. In most cases immune stimulation creates a population of white blood cells that can kill tumor cells wherever they arise in the body, years after surgical removal of the original tumor.

Vaccinogen’s scientists prepare a vaccine from the patient’s own tumor. The cells are dissociated, irradiated to make them non-tumorigenic and administered to the patient by three weekly injections, starting four weeks after surgery. A booster vaccination is administered six months later.

About Vaccinogen

Vaccinogen is a biopharmaceutical company developing and commercializing cancer vaccines and other immunotherapeutic products. Based in Frederick, MD, the company has a portfolio of product candidates for the treatment of cancer, infectious disease, autoimmune and anti-inflammatory diseases and fully human monoclonal antibodies in various stages of clinical development. The company maintains a European subsidiary in Emmen, The Netherlands that operates a fully functioning cGMP manufacturing center for the production of OncoVAX® vaccine.